- Home
- Home Loans
- News
- 14 lenders offering cashbacks: Who is still offering cashback deals in November?
14 lenders offering cashbacks: Who is still offering cashback deals in November?


With at least one more Reserve Bank of Australia cash rate hike tipped by the big four banks, it’s a tough time for homeowners. If you’re considering refinancing, or looking for your first home loan, it may be worthwhile nabbing a sweetener for your back pocket, like a cashback deal.
In November 2023, there are 14 lenders offering cashback deals. There is one less lender from last month offering cashback deals, down from a 2023 peak of 35 in March.
Home loan lenders are pulling out of the cashback due to the last year of rising home loan interest rates, which pushed more borrowers to refinance. A higher number of new customers has resulted in home loan banks and lenders taking cashback deals off the tables.
The good news is that refinancers and first home buyers still have cashback deals to consider, as well as other competitive incentives. Just be sure to compare factors beyond the cashback offer, and make sure the deal suits your financial situation and personal goals.
Let’s explore all the cashback home loan deals available for new borrowers and refinancers in November 2023:
Cashback home loan deals on offer in November
Cashback deals
In November, there are 14 lenders offering cash back home loan deals, ranging from $2,000 up to $10,000.
Cashback home loan offers can be a competitive perk to prioritise on your home loan comparison, as they may help offset the initial cost of taking out or refinancing a home loan. The process of refinancing a home loan alone can cost anywhere from a few hundred dollars to thousands, so every extra dollar counts.
You don’t just have to put a cashback deal towards upfront mortgage costs, you could also purchase a new appliance, pay for home improvements, or even use it to chip away at your mortgage debt.
Keep in mind that the amount of cashback you're eligible to receive typically depends on key factors like your eligibility, the total loan amount, and your loan-to-value ratio (LVR). For instance, Reduce Home Loans is currently offering a $10,000 cashback deal, however, this particular offer is exclusively available to customers with loans of $2 million or more.
Lender | Cashback | Refinancers? | New loans? | Notes |
Yes | No | Cashback of $3,000 for first home buyers. | ||
Yes | Yes | |||
Yes | No | |||
Yes | No | |||
Yes | No | |||
Yes | No | Max cashback for loans over $500K. | ||
Yes | No | Max cashback for loans above $700k and 20% deposit. | ||
Yes | No | Rebate of $1,000 for first home buyers | ||
Yes | Yes | Max cashback for loans over $2M. | ||
Yes | No | |||
Yes | No | Available on loans of $250k and above. Exclusive to aggregators. | ||
Yes | No | Exclusive to DHOAS loans | ||
Yes | No | Refinance above $500k. | ||
Yes | No |
Source: RateCity.com.au. Data accurate as of 02/11/2023. Value of the cashback you may be offered will vary depending on the lender's eligibility criteria and your specific financial situation. To view more cashback offers, please visit our cashback comparison page.
Reduced Lenders Mortgage Insurance
While cashbacks are typically reserved for refinancers, first home buyers can still nab a competitive upfront deal in reduced or waived Lenders Mortgage Insurance (LMI).
If you have a home deposit under 20%, LMI can be one of the biggest costs associated with a mortgage, alongside deposit and stamp duty. It can cost tens of thousands of dollars, depending on your deposit and the value of your property, which will need to be paid up front or added to your mortgage.
Let’s be honest; saving a 20% deposit can be extremely difficult, especially if you’re buying in Australia’s capital cities. This is why reduced LMI may be a competitive offer for first home buyers to consider.
In November 2023, St. George is offering reduced LMI to eligible first home buyers. The offer of $1 LMI is available to eligible first home buyers with a 15% deposit, looking for an owner-occupier home loan under $850,000, and planning on making principal and interest repayments.
Frequent Flyer Points
If you’re a traveller, as well as a homeowner, you may be interested in a home loan that provides frequent flyer points for eligible customers every year.
The Qantas Money Home Loan offers customers 100,000 Qantas frequent flyer points every year into your account (you must be a Qantas Frequent Flyer Member). This could be enough points to take you across the globe, or take the family around Australia.
This offer is available for first time buyers and refinancers with established properties (no off-the-plan homes or construction loans). The loan is also available to self-employed homeowners (eligibility criteria applies).
Keep in mind that there is more to a home loan than a deal being offered to you, and it’s always important to compare the interest rates, fees, and features of a loan before applying.
For more information on whether one of the above loans may suit your finances, consider using our Home Loan Calculator to see how potential repayments could fit in your budget.
Discover how a new home loan may suit your budget
Compare home loans in Australia
6.09%
6.11%
$3,249
Australian Credit Licence 230686
Fees & charges apply
Products issued by ubank, part of NAB
- Promoted
- Special
- Owner Occupied
- Variable
- 40% min deposit
- P&I
5.74%
6.15%
$3,143
Australian Credit Licence 237879
Fees & charges apply
- Promoted
- Owner Occupied
- Fixed 2 years
- 10% min deposit
- P&I
6.04%
6.08%
$3,234
Australian Credit Licence 395219
Fees & charges apply
- Promoted
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.09%
6.22%
$3,249
Australian Credit Licence 237879
Fees & charges apply
- Promoted
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.39%
6.40%
$3,342
Australian Credit Licence 233714
Fees & charges apply
- Promoted
- Owner Occupied
- Variable
- 20% min deposit
- P&I
5.69%
6.13%
$3,127
Australian Credit Licence 395219
Fees & charges apply
- Promoted
- Owner Occupied
- Fixed 3 years
- 10% min deposit
- P&I
7.09%
7.09%
$3,563
Australian Credit Licence 234527
Fees & charges apply
- Promoted
- Cashback
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.95%
7.15%
$2,896
Australian Credit Licence 234945
Fees & charges apply
- Promoted
- Investor
- Variable
- 20% min deposit
- Interest Only
6.96%
7.00%
$3,521
Australian Credit Licence 230686
Fees & charges apply
- Promoted
- Investor
- Variable
- 10% min deposit
- P&I
7.20%
6.90%
$3,000
Australian Credit Licence 234945
Fees & charges apply
- Promoted
- Investor
- Variable
- 40% min deposit
- Interest Only
7.46%
7.27%
$3,108
Australian Credit Licence 230686
Fees & charges apply

Tailored Home Loan
- Owner Occupied
- Variable
- 10% min deposit
- Interest Only
7.84%
7.84%
$3,806
Australian Credit Licence 234527
Fees & charges apply

Standard Variable Investment Loan
- Cashback
- Investor
- Variable
- 20% min deposit
- P&I
Product database updated 25 Feb, 2025
Share this page
Get updates on the latest financial news and products
By continuing, you agree to the RateCity Privacy Policy, Terms of Use and Disclaimer.
Promoted home loans

Neat Home Loan
Real Time Rating™
- Special
- Owner Occupied
- Variable
- 40% min deposit
Interest rate p.a.
6.09%
Comparison rate* p.a.
6.11%
Australian Credit Licence 230686
Fees & charges apply

Express Home Loan
Real Time Rating™
- Owner Occupied
- Fixed 2 years
- 10% min deposit
- P&I
Interest rate p.a.
5.74%
Comparison rate* p.a.
6.15%
Australian Credit Licence 237879
Fees & charges apply

Variable Home Loan
Real Time Rating™
- Owner Occupied
- Variable
- 10% min deposit
- P&I
Interest rate p.a.
6.04%
Comparison rate* p.a.
6.08%
Australian Credit Licence 395219
Fees & charges apply

Express Home Loan
Real Time Rating™
- Owner Occupied
- Variable
- 10% min deposit
- P&I
Interest rate p.a.
6.09%
Comparison rate* p.a.
6.22%
Australian Credit Licence 237879
Fees & charges apply
Product data updated on 25 Feb 2025